Jio Financial Share Price: Shares of Mukesh Ambani-led Jio Financial Services Ltd rose nearly 3 per cent on Thursday after the company announced that Bank of America (BofA) will invest up to Rs 18,268.22 crore (USD 1.9 billion) in its lending arm, Jio Credit Ltd.
At 9:30 am, Jio Financial Services was trading 0.3 per cent, or Rs 0.85, higher at Rs 257.25 on the NSE. The stock had earlier climbed as much as 2.9 per cent to Rs 263.40 before paring gains. (Jio Financial Share Price)
BofA to acquire up to 49.9 per cent stake in Jio Credit
Under the transaction, BofA, through its wholly owned subsidiary NB Holdings Corp, will invest up to Rs 18,268.22 crore in Jio Credit Ltd (JCL), the NBFC lending arm of Jio Financial Services, through a preferential allotment of equity shares and convertible warrants via private placement.
BofA will acquire a 26.50 per cent stake in JCL upfront through the equity tranche. Its holding will increase to 49.90 per cent following the full conversion of warrants within 18 months of their allotment.
JCL will issue 4,29,29,760 equity shares with a face value of Rs 10 each, representing 26.50 per cent of its post-issue paid-up capital. The equity investment will amount to Rs 6,612.90 crore.
The company will also issue 7,56,64,248 warrants worth Rs 11,655.32 crore. BofA will pay 25 per cent of the warrant consideration at the time of subscription, with the remaining 75 per cent payable upon conversion.
Equal board representation
The board of Jio Credit will have equal representation from Jio Financial Services and Bank of America, while the existing management team will continue to oversee the company’s operations.
Despite the stake dilution, Jio Credit will remain a consolidated subsidiary of Jio Financial Services. The transaction is not classified as a related-party transaction and does not involve any promoter or promoter-group interest.
Jio Credit AUM crosses Rs 30,000 crore
Jio Credit had assets under management (AUM) of Rs 30,667 crore (USD 3.2 billion) as of June 30, 2026, having built the portfolio over the past two years. The investment marks another major partnership for Jio Financial Services as it expands its financial services businesses with global partners.
The company has previously entered into 50:50-style joint ventures with BlackRock in asset management and wealth management, and with Allianz in insurance. The BofA transaction brings a global banking partner into Jio’s lending business.
